ProShare Advisors LLC Has $5.49 Million Stock Holdings in Northern Trust Corporation $NTRS

Key Points

• ProShare Advisors LLC cut its Northern Trust stake by 19.3% in the fourth quarter, selling 9,590 shares and leaving it with 40,204 shares valued at about $5.49 million.
• Insider activity was mixed but net selling dominated: Guy Gibson sold 3,009 shares, while director Robert Edward Jr. Moritz bought 225 shares. Over the last 90 days, insiders sold 30,514 shares worth about $4.89 million.
• Northern Trust beat earnings expectations and raised its dividend, reporting Q1 EPS of $2.71 versus $2.37 expected and revenue of $2.21 billion; it also declared a quarterly dividend of $0.80 per share, or $3.20 annualized.

ProShare Advisors LLC lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 19.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 40,204 shares of the asset manager's stock after selling 9,590 shares during the period. ProShare Advisors LLC's holdings in Northern Trust were worth $5,491,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of Northern Trust by 1.0% during the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager's stock worth $1,285,236,000 after purchasing an additional 97,584 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northern Trust by 6.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,378,196 shares of the asset manager's stock worth $320,092,000 after purchasing an additional 133,751 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Northern Trust by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager's stock worth $262,128,000 after purchasing an additional 40,048 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Northern Trust by 4.8% during the 3rd quarter. First Trust Advisors LP now owns 1,924,707 shares of the asset manager's stock worth $259,066,000 after purchasing an additional 88,699 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Northern Trust by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 1,414,595 shares of the asset manager's stock worth $190,404,000 after purchasing an additional 48,417 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Buying and Selling

In other news, insider Guy Gibson sold 3,009 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total value of $428,451.51. Following the sale, the insider directly owned 29,332 shares in the company, valued at approximately $4,176,583.48. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the stock in a transaction dated Friday, May 1st. The stock was bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the purchase, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 30,514 shares of company stock valued at $4,890,937. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Truist Financial boosted their price target on Northern Trust from $155.00 to $176.00 and gave the company a "hold" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company boosted their price target on Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price target on Northern Trust from $153.50 to $170.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Finally, BMO Capital Markets upgraded Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target on the stock in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus price target of $164.08.

Northern Trust Trading Up 0.4%

Shares of NTRS opened at $167.77 on Friday. Northern Trust Corporation has a 12-month low of $104.09 and a 12-month high of $173.18. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $31.05 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 1.20 and a beta of 1.27. The stock's 50-day moving average price is $153.16 and its 200 day moving average price is $144.52.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted $1.90 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts predict that Northern Trust Corporation will post 10.68 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, June 5th. Northern Trust's dividend payout ratio is currently 33.51%.

Northern Trust Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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